New Barclays chief Antony Jenkins vows to rebuild bank’s reputation

Barclays has named Antony Jenkins as its new chief executive, with the former retail and business banking boss pledging to restore its shattered reputation.

Antony Jenkins has been appointed chief executive of Barclays (Picture: PA)

Bob Diamond quit as the bank’s chief executive in July and was followed out by chief operating officer Jerry del Missier over the Libor-fixing scandal.

Mr Jenkins will start immediately and be joined in November by incoming chairman Sir David Walker , who will replace Marcus Agius.

His appointment comes a day after the Serious Fraud Office confirmed it was investigating payments between Barclays and Qatar Holding, part of the Qatar Investment Authority sovereign wealth fund, at the height of the financial crisis in 2008.

Mr Jenkins, who has been on the bank’s executive committee since 2009, will be paid an annual salary of £1.1million, with bonuses of 250 per cent and long-term share incentives worth £4.4million.

‘We have made serious mistakes in recent years and clearly failed to keep pace with our stakeholders’ expectations,’ he said in his first comments since accepting the job.

‘We have an obligation to all of those stakeholders – customers, clients, shareholders, colleagues and broader society – and a unique opportunity to restore Barclays’s reputation by making it the “go to” bank in all of our chosen markets.

‘That journey will take time, we have much to do, and I look forward to getting started immediately.’

Mr Agius added: ‘Antony’s appointment has the support of all the directors; we are confident that, supported by the board and the executive committee, he will work quickly to take the group forward.’